Most of my utility consumption is gas.

@Sam Peterson You can utilize different online companies (web, phone apps, etc.) for this but if you're new to REI you could gain traction by making your own.

If it looks to be a solid deal then use your knowledge of which expenses should exist and if utilities are in question you can always call the provider.

The way to handle it is to allocate expenses based on the percentage of the home’s square footage used for rental purposes.Here’s how it works:Calculate Rental Percentage: Add up the square footage of both the in-law suite and the rented room, then divide by the total square footage of the house.Apply This Percentage: Use this rental percentage to deduct a proportionate share of expenses like repairs, utilities, and mortgage interest.This post does not create a CPA-Client relationship.

Can you bill back utilities to the residents?

My 401k is not the only funds I have, rather I want to utilize that money to invest while I am young.

1) The $1832 S8 rent probably includes all utilities.

Most tax professionals do not advise their clients to utilize this approach and it may raise concerns under IRS examination.

Good LuckTypically multifamily is 5 units or more and Single Families are 1-4 units, so I was confused, so thanks for the clarification  Actually, that part is only half true because there are additional criteria that need to be considered to be multifamily vs SFR, such as separate utilities, heating systems, how they are attached to one another (Vertically vs horizontally), etcan easy way to differentiate and communicate is to call it multifamily if it has more than 5 units. and Single family for 1-4 units or call it how it is duplexI own several duplexes that are considered single-family homes by the city.In the end, it is your decision on how to use it

Utilize Excel spreadsheets and attend local networking events for valuable insights.